South-Eastern Asia: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in South-Eastern Asia

The Southeast Asian market for oil and water paints and varnishes surged to $X in 2021, growing by 20% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Oil And Water Paints And Varnishes in South-Eastern Asia

In value terms, production of oil and water paints and varnishes skyrocketed to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2019 with an increase of 30%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Oil And Water Paints And Varnishes

Exports in South-Eastern Asia

In 2021, overseas shipments of oil and water paints and varnishes decreased by -9.3% to X tons, falling for the seventh year in a row after three years of growth. In general, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of 27% against the previous year. Over the period under review, the exports of reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, exports of oil and water paints and varnishes fell modestly to $X in 2021. Over the period under review, exports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2013 when exports increased by 47%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

In 2021, Vietnam (X tons) was the major exporter of oil and water paints and varnishes, achieving 40% of total exports. It was distantly followed by Malaysia (X tons), Singapore (X tons) and Thailand (X tons), together constituting a 56% share of total exports. Indonesia (X tons) took a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Vietnam (with a CAGR of +36.7%), while the other leaders experienced a decline in the exports figures.

In value terms, Vietnam ($X), Singapore ($X) and Malaysia ($X) constituted the countries with the highest levels of exports in 2021, with a combined 79% share of total exports.

In terms of the main exporting countries, Vietnam, with a CAGR of +26.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, picking up by 9.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2018 when the export price increased by 22% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+5.9%), while the other leaders experienced more modest paces of growth.

Imports of Oil And Water Paints And Varnishes

Imports in South-Eastern Asia

In 2021, supplies from abroad of oil and water paints and varnishes increased by 5.1% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 29%. Over the period under review, imports of reached the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, imports of oil and water paints and varnishes soared to $X in 2021. In general, imports showed a relatively flat trend pattern. Over the period under review, imports of attained the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Vietnam (X tons), Singapore (X tons), Thailand (X tons), Indonesia (X tons), Malaysia (X tons) and the Philippines (X tons) was the largest importer of oil and water paints and varnishes in South-Eastern Asia, achieving 90% of total import. Cambodia (X tons) held a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +6.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest oil and water paints and varnishes importing markets in South-Eastern Asia were Thailand ($X), Singapore ($X) and Vietnam ($X), together accounting for 66% of total imports.

Among the main importing countries, Singapore, with a CAGR of +5.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, picking up by 20% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Thailand ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+7.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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